According to reports, one of the bank's ATM located at Sikar in Rajasthan released much more money than that was entered by various customers.

"The incident occurred on account of erroneous loading of currency notes by the outsourced agency to which this ATM has been outsourced by the bank.

"Neither the bank nor its customers will be required to bear any loss as a result of this incident. Any inconvenience caused to our customers in this regard is regretted," Axis Bank said in a statement.

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